Last checked at 12 May 2016 10:55
Dear Sir(s),
SUB.: OUTCOME OF THE 169TH BOARD MEETING OF AXIS BANK LIMITED HELD ON 12th MAY, 2016
REF: SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ('LISTING REGULATIONS')
This is to inform you that at the 169th meeting of the Board of Directors of the Bank (the Board) held on 12th May, 2016, the following items of business were transacted by the Board:-
1) Appointment of Dr. Sanjiv Misra as an Additional Independent Director of the Bank
The Board approved the appointment of Dr. Sanjiv Misra as an Additional Independent Director of the Bank with effect from 12th May, 2016 and to hold office as such upto the date of the 22nd Annual General Meeting (AGM) of the Shareholders of the Bank to be held on 22nd July 2016 at Ahmedabad, in terms of the provisions of Sections 149, 152, 161 and Schedule IV of the Companies Act 2013, the relevant Rules made thereunder, the Listing Regulations, applicable provisions of the Banking Regulation Act, 1949 and Guidelines issued by the Reserve Bank of India (RBI) and Articles of Association of the Bank, subject to the approval of the Shareholders of the Bank at the said AGM.
2) Appointment of Dr. Sanjiv Misra as the Non-Executive (Part-time) Chairman of the Bank
Pursuant to the authority vested in Article 90 of the Articles of Association of the Bank, the Board approved the appointment of Dr. Sanjiv Misra as the Non-Executive (Part-time) Chairman of the Bank, for a period of 5 years, with effect from 12th May 2016 and the terms and conditions relating to the said appointment, including remuneration, in terms of the applicable provisions of the Banking Regulation Act, 1949 and Articles of Association of the Bank, subject to the approval of the RBI and the Shareholders at the 22nd Annual General Meeting of the Bank. Dr. Sanjiv Misra shall not be liable to retire by rotation during the said period.
3) Appointment of Shri Rajiv Anand as an Additional Director of the Bank
The Board of Directors of the Bank have appointed Shri Rajiv Anand as an Additional Director of the Bank, with effect from 12th May, 2016, and to hold office as such upto the date of the 22nd Annual General Meeting (AGM) of the Shareholders of the Bank to be held on 22nd July 2016 at Ahmedabad, in terms of the provisions of Sections 152 and 161 of the Companies Act 2013, the relevant Rules made thereunder, applicable provisions of the Banking Regulation Act, 1949 and Guidelines issued by the RBI and Articles of Association of the Bank, subject to the approval of the Shareholders of the Bank at the said AGM.
4) Appointment of Shri Rajiv Anand as Executive Director (Retail Banking) of the Bank
The Board approved the appointment of Shri Rajiv Anand as the Whole-time Director designated as 'Executive Director (Retail Banking)' of the Bank, for a period of 3 years, with effect from 12th May, 2016 and the terms and conditions relating to the said appointment, including remuneration, in terms of the relevant provisions of the Companies Act 2013, the relevant Rules made thereunder, applicable provisions of the Banking Regulation Act, 1949 and Guidelines issued by the RBI and Articles of Association of the Bank, subject to the approval of the RBI and the Shareholders at the 22nd Annual General Meeting of the Bank. Shri Rajiv Anand shall be liable to retire by rotation during the said period.
5) Appointment of Shri Rajesh Dahiya as an Additional Director of the Bank
The Board of Directors of the Bank have appointed Shri Rajesh Dahiya as an Additional Director of the Bank, with effect from 12th May, 2016, and to hold office as such upto the date of ensuing 22nd Annual General Meeting (AGM) of the Shareholders of the Bank to be held on 22nd July 2016 at Ahmedabad, in terms of the provisions of Sections 152 and 161 of the Companies Act 2013, the relevant Rules made thereunder, applicable provisions of the Banking Regulation Act, 1949, Guidelines issued by the RBI and Articles of Association of the Bank, subject to the approval of the Shareholders of the Bank at the said AGM.
6) Appointment of Shri Rajesh Dahiya as Executive Director (Corporate Centre) of the Bank
The Board approved the appointment of Shri Rajesh Dahiya as the Whole-time Director designated as 'Executive Director (Corporate Centre)' of the Bank, for a period of 3 years, with effect from 12th May, 2016 and the terms and conditions relating to the said appointment, including remuneration, in terms of the relevant provisions of the Companies Act 2013, the relevant Rules made thereunder, applicable provisions of the Banking Regulation Act, 1949 and Guidelines issued by the RBI and Articles of Association of the Bank, subject to the approval of the RBI and the Shareholders at the 22nd Annual General Meeting of the Bank. Shri Rajesh Dahiya shall be liable to retire by rotation during the said period.
The brief profiles of the said Directors are enclosed herewith. Further, please note that the said Directors are not related to any other Members of the Board or to any of the Key Managerial Personnel of the Bank.
You are requested to take note of above and arrange to bring the above to the notice of all concerned.
Thanking You,
Yours Sincerely,
For Axis Bank Limited
Girish V Koliyote
Company Secretary
Encl.: as above
Profile of Dr. Sanjiv Misra
Dr. Sanjiv Misra graduated in Economics from St. Stephen's College, Delhi. He has a Master's degree in Economics from the Delhi School of Economics, a Master's degree in Public Administration from the Harvard Kennedy School, USA and a Ph. D from the Jawaharlal Nehru University, New Delhi. At Harvard University, he was designated Lucius N. Littauer Fellow of 1987 in recognition of exceptional academic strengths and leadership qualities.
Dr. Misra was a member of the Indian Administrative Service for over 35 years during which period he held a wide range of key positions in the Federal and state governments, including as Managing Director of the Gujarat Industrial Development Corporation and stints at senior levels in the Government of India in the Cabinet Office, the Ministry of Petroleum and the Ministry of Finance. He was a Secretary in the Ministry of Finance till his superannuation in 2008. Subsequently, he served as a Member of the 13th Finance Commission, a constitutional position with the rank of a Minister of State.
Dr. Misra has been a member of the Advisory Council of the Asian Development Bank Institute, Tokyo. He was also a member of the Committee on Fiscal Consolidation (Kelkar Committee) set up by the Finance Minister in August 2012 to chart out a road map for fiscal consolidation for the Indian economy. He has a number of publications on policy issues to his credit.
Profile of Shri Rajiv Anand
Shri Rajiv Anand is a rank holding qualified Chartered Accountant and holds a Bachelor's degree in Commerce. He has over 25 years of experience in the financial services industry & was the Group Executive & Head, Retail Banking at Axis Bank. His portfolio includes Retail Liabilities, Retail Lending & Payments, Branch Banking, Retail Operations, Digital Banking, Marketing and Retail Products.
He has held key management positions at leading global financial institutions and has diverse experience in the financial services sector. He joined the Bank from its asset management arm, Axis Asset Management Co. Ltd., where he held the position of Managing Director & CEO. In his previous roles, he has managed Investments, balance sheet management & money market and bond trading. He has also been very successful as a Debt Fund Manager and has won several accolades for the same. He brings strengths in capital markets and building new businesses to his responsibilities at the Bank.
He is an avid sports lover and movie fan. Shri Anand's family consists of his wife who is a graphic design professional and two daughters.
Profile of Shri Rajesh Dahiya
Shri Rajesh Dahiya is an Engineer with a Masters in Human Resources Management. With over 25 years of experience, He was the Group Executive & Head-Corporate Center at Axis Bank, prior to his appointment as an Executive Director (Corporate Centre) of the Bank. In his earlier role, he supervised all functions under Corporate Center - Audit, Human Resources, Compliance, Company Secretary, Corporate Communications, Administration & Security, Corporate Real Estate Services, Chief Business Relations Officer (CBRO), Ethics & Sustainability and Law. In addition, he was also overseeing the functioning of Axis Bank Foundation.
Before joining Axis Bank in June 2010, he was associated with Tata Group for 20 years where he handled various responsibilities across functions such as Human Resources, Manufacturing, Exports, Distribution and Institutional Sales. His last assignment before joining Axis Bank was with Tata Tea Limited where he was responsible for integrating various products of Tata Tea, Himalaya & Tetley under a common distribution channel. In his earlier role in Tata Group, he was Vice President - HR and Head - Tata Administrative Services (TAS). He also headed the Human Resources function for Rallis India Pvt. Ltd.
He has lived in various parts of the country and now a Mumbaikar living with his wife and two daughters. He devotes his free time to road travels, poetry, music and cityscape photography.